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The Great Moderation consensus among macroeconomists is that fiscal policy should be used sparingly because:
External Rewards
Benefits provided by an external source, often used as motivation in behavior reinforcement, that are not inherently related to the activity being performed.
Innate Patterns
Refers to behaviors or actions that are genetically hardwired and manifest without the need for learning or experience.
Biologically Determined
Traits, behaviors, or characteristics that are influenced by genetic makeup rather than environmental factors.
Instinct
Natural, unchanging behaviors exhibited by animals in reaction to specific triggers.
Q33: The economist that warned that any attempt
Q35: When the actual unemployment rate is equal
Q93: (Figure: Actual and Natural Rates of Unemployment)
Q119: An increase in the expected rate of
Q127: Reduction of inflation that is embedded in
Q129: A devaluation can help reduce shortages of
Q138: A decrease in the demand for money
Q167: Economists call the revenue generated by the
Q194: If Congress imposes a $5 tax on
Q257: If the economy is at potential output